Exact Sciences (NASDAQ:EXAS) Now Covered by Barclays

Barclays started coverage on shares of Exact Sciences (NASDAQ:EXAS) in a report released on Thursday, Marketbeat reports. The firm issued an overweight rating and a $70.00 price target on the medical research company’s stock.

A number of other research firms have also commented on EXAS. Evercore ISI dropped their price objective on shares of Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Bank of America dropped their price target on Exact Sciences from $75.00 to $72.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Stifel Nicolaus decreased their price objective on Exact Sciences from $82.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Craig Hallum dropped their target price on Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Benchmark reaffirmed a “buy” rating and set a $65.00 price target on shares of Exact Sciences in a report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $72.76.

Exact Sciences Stock Up 0.6 %

Exact Sciences stock opened at $55.13 on Thursday. The stock has a 50-day simple moving average of $57.41 and a 200-day simple moving average of $59.32. The company has a market capitalization of $10.20 billion, a P/E ratio of -47.12 and a beta of 1.24. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12. Exact Sciences has a fifty-two week low of $40.62 and a fifty-two week high of $79.62.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The firm had revenue of $708.66 million during the quarter, compared to analyst estimates of $716.80 million. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. Exact Sciences’s quarterly revenue was up 12.8% compared to the same quarter last year. Equities research analysts expect that Exact Sciences will post -1.1 earnings per share for the current year.

Insider Activity

In other Exact Sciences news, CEO Kevin T. Conroy acquired 19,500 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were purchased at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the purchase, the chief executive officer now owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. The trade was a 1.85 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.36% of the company’s stock.

Institutional Trading of Exact Sciences

Large investors have recently modified their holdings of the business. Chicago Partners Investment Group LLC grew its holdings in Exact Sciences by 1.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 9,261 shares of the medical research company’s stock valued at $651,000 after buying an additional 158 shares during the last quarter. Perigon Wealth Management LLC lifted its position in shares of Exact Sciences by 3.2% in the fourth quarter. Perigon Wealth Management LLC now owns 8,436 shares of the medical research company’s stock valued at $474,000 after acquiring an additional 264 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Exact Sciences by 2.7% during the second quarter. Amalgamated Bank now owns 10,937 shares of the medical research company’s stock valued at $462,000 after acquiring an additional 284 shares during the last quarter. Huntington National Bank increased its position in Exact Sciences by 838.1% during the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after purchasing an additional 352 shares in the last quarter. Finally, CIBC Asset Management Inc raised its stake in Exact Sciences by 6.1% in the 3rd quarter. CIBC Asset Management Inc now owns 6,489 shares of the medical research company’s stock valued at $442,000 after purchasing an additional 371 shares during the last quarter. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Exact Sciences Company Profile

Exact Sciences Corporation provides cancer screening and diagnostic test products in the United States and internationally. The company offers Cologuard, a non-invasive stool-based DNA screening test to detect DNA and hemoglobin biomarkers associated with colorectal cancer and pre-cancer. It also provides Oncotype DX Breast Recurrence Score Test; Oncotype DX Breast DCIS Score Test; Oncotype DX Colon Recurrence Score Test; OncoExTra Test for tumor profiling for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer; and Covid-19 testing services.